Waste Heat Recovery System Market by Application (Preheating and Steam & Electricity Generation), End-Use Industry (Petroleum Refining, Metal Production, Cement, Chemical, Paper & Pulp, and Textile) - Global Trends & Forecasts to 2021

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Date: 05-Oct-2016
No. of pages: 175
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“Waste heat recovery system market to reach USD 65.87 billion by 2021”

The market size of waste heat recovery system (WHRS) is projected to reach USD 65.87 billion by 2021, at a CAGR of 6.90% between 2016 and 2021. The growing demand from major enduser industries such as cement and metal production is expected to drive the market in the future. The growing construction sector is significantly driving the demand for WHR system. The high cost of these systems is a major restraint for the market.

“Steam & electricity generation application to witness the highest growth rate during forecast period”

The steam & electricity generation application is expected to witness the highest growth rate between 2016 and 2021. Steam generation from waste heat sources is crucial to several end-use industries and, hence, is a major WHRS application. The advantages of steam generation are its high heat capacity and flexibility. However, it is expensive to produce steam, if there are inefficiencies in boiler and distribution systems. The fuel consumption is greatly reduced when the steam generated from waste heat is used for industrial operations.

“Asia-Pacific to be the fastest-growing market during forecast period”

Asia-Pacific is projected to be the fastest-growing WHR system market due to the growing construction industry and industrialization in the region. The South American WHR system market is also expected to grow significantly due to the growing metal production and cement industries. North America is a significant market for WHRS, and is witnessing a moderate growth rate due to stringent energy efficiency regulations. The future growth of the industry will likely be driven by investments in chemical and petroleum refining projects, which is backed by recent boom of shale gas and oil slates in the U.S. and Canada.

Break-up of profiles of primary participants for the report


  • By Company Type – Tier 1– 37%, Tier 2– 50%, and Tier 3– 13%

  • By Designation– C Level– 50%, Director Level– 31%, and Others–19%

  • By Region– North America– 32%, Europe– 39%, Asia-Pacific– 13%, the Middle East & Africa- 10%, and South America- 6%


The report includes company profiles of major players and recent activities undertaken in the market such as supply contracts, agreements, and partnerships & collaborations. Some of the major companies profiled in this report are ABB Ltd. (Switzerland), Amec Foster Wheeler (U.K.), Ormat Technologies Inc. (U.S.), General Electric Co. (U.S.), Mitsubishi Heavy Industries Ltd. (Japan), Echogen Power Systems Inc. (U.S.), Econotherm Ltd. (U.K.), Thermax Limited (India), Siemens AG (Germany), and Cool Energy Inc. (Colorado).

This report provides a detailed analysis of the WHR system market and segments the same on the basis application, end-use industry, and region. Based on application, the market has been segmented into preheating, steam & electricity generation, and others. Based on end-use industry, the market has been segmented as petroleum refining, metal production, cement, chemical, paper & pulp, and others. Based on region, the market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

Reasons to buy the report:

From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the WHR system market; high-growth regions; and market drivers, restraints, and opportunities.

The report provides insights on the following pointers:


  • Market Penetration: Comprehensive information on WHR system offered by the top players in the market

  • Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the WHR system market

  • Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for WHR system across regions

  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the WHR system market

  • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the WHR system market

Waste Heat Recovery System Market by Application (Preheating and Steam & Electricity Generation), End-Use Industry (Petroleum Refining, Metal Production, Cement, Chemical, Paper & Pulp, and Textile) - Global Trends & Forecasts to 2021

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Markets Scope
1.3.1 Markets Covered
1.3.1.1 Scope of the Report, By Region
1.3.2 Years Considered for the Study
1.3.3 Currency
1.3.4 Limitation
1.4 Stakeholder

2 Research Methodology
2.1 Research Data
2.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Industry Insights
2.1.2.2 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities for Waste Heat Recovery System Manufacturers
4.2 Rapid Growth of the Waste Heat Recovery System Market
4.3 Steam & Electricity Generation Dominates the Waste Heat Recovery System Market in Terms of Application
4.4 Petroleum Refining Dominates the Market
4.5 Waste Heat Recovery System Market Attractiveness
4.6 Lifecycle Analysis

5 Market Overview
5.1 Introduction
5.2 Market Segmentation
5.2.1 Waste Heat Recovery System Market Segmentation, By Application
5.2.2 Waste Heat Recovery System Market Segmentation, By End-User Industry
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Rising Energy & Electricity Prices in Emerging Economies
5.3.1.2 Government Regulations & Incentives
5.3.1.3 Growing Environmental Concern
5.3.1.4 Need for Energy Efficient Equipment
5.3.2 Restraints
5.3.2.1 Cost Restriction
5.3.2.2 Temperature Restraints
5.3.3 Opportunities
5.3.3.1 Emerging Waste Heat Recovery Technologies
5.3.3.2 Emerging Economies
5.4 Burning Issue
5.4.1 Focus on Cost Efficent Heat Recovery
5.5 Value Chain Analysis
5.5.1 Sources of Waste Heat
5.5.2 Waste Heat Recovery Components/Devices
5.5.3 Application of Waste Heat Recovered
5.5.4 End-User Industry
5.6 Porter’s Five Forces Analysis
5.6.1 Bargaining Power of Suppliers
5.6.2 Bargaining Power of Buyers
5.6.3 Threat of Substitutes
5.6.4 Threat of New Entrants
5.6.5 Intensity of Competitive Rivalry
5.7 Macro Economic Indicators
5.7.1 Power Generation Industry
5.7.2 Construction
5.7.3 Manufacturing
5.7.4 Oil & Gas Industry

6 WHRS Market, By Application
6.1 Introduction
6.2 Preheating
6.3 Steam & Electricity Generation
6.3.1 Steam Generation
6.3.2 Electricity Generation
6.3.2.1 Steam Rankine Cycle
6.3.2.2 Organic Rankine Cycle
6.3.2.3 Kalina Cycle
6.4 Other Applications

7 WHRS Market By End-User Industry
7.1 Introduction
7.2 Petroleum Refining
7.3 Metal Production
7.4 Cement
7.5 Chemical
7.6 Paper & Pulp
7.7 Others
7.7.1 Textile
7.7.2 Food

8 Regional Analysis
8.1 Introduction
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 Italy
8.3.3 France
8.3.4 U.K.
8.3.5 Belgium
8.3.6 Sweden
8.3.7 Russia
8.3.8 Poland
8.3.9 Spain
8.3.10 Others
8.4 Asia-Pacific
8.4.1 China
8.4.2 India
8.4.3 Japan
8.4.4 South Korea
8.4.5 Philippines
8.4.6 Indonesia
8.4.7 Malaysia
8.4.8 Vietnam
8.4.9 Others
8.5 Middle East & Africa
8.5.1 the Middle East
8.5.2 Africa
8.6 South America
8.6.1 Brazil
8.6.2 Argentina
8.6.3 Others

9 Competitive Landscape
9.1 Overview
9.2 Market Share Analysis
9.3 Supply Contract: the Most Popular Growth Strategy
9.4 Competitive Situations and Trends
9.4.1 Supply Contract
9.4.2 Agreement
9.4.3 Partnership & Collaboration
9.4.4 Others

10 Company Profiles
10.1 ABB Ltd.
10.1.1 Products Offered
10.1.2 Recent Developments
10.1.3 SWOT Analysis
10.1.4 MnM View
10.2 AMEC Foster Wheeler
10.2.1 Products Offered
10.2.2 Recent Developments
10.2.3 SWOT Analysis
10.2.4 MnM View
10.3 Ormat Technologies Inc.
10.3.1 Products Offered
10.3.2 Recent Developments
10.3.3 SWOT Analysis
10.3.4 MnM View
10.4 General Electric Co.
10.4.3 SWOT Analysis
10.4.4 MnM View
10.5 Mitsubishi Heavy Industries Ltd.
10.5.1 Products Offered
10.5.3 SWOT Analysis
10.5.4 MnM View
10.6 Echogen Power Systems Inc.
10.6.1 Products Offered
10.6.2 Recent Developments
10.6.3 MnM View
10.7 Econotherm Ltd
10.7.1 Products Offered
10.7.2 Recent Developments
10.7.3 MnM View
10.8 Thermax Limited
10.8.1 Products Offered
10.8.2 Recent Developments
10.8.3 MnM View
10.9 Siemens AG
10.9.1 Products Offered
10.9.2 Recent Developments
10.9.3 MnM View
10.10 Cool Energy, Inc.
10.10.1 Products Offered
10.10.2 Recent Developments
10.10.3 MnM View
10.11 Other Manufacturers of WHRS

11 Appendix
11.1 Discussion Guide
11.2 Introducing RT: Real Time Market Intelligence
11.3 Available Customizations
11.4 Related Reports

List of Tables

Table 1 Examples of Waste Heat Sources and End-Use
Table 2 Waste Heat Recovery System Market, By Application
Table 3 Waste Heat Recovery System Market, By End-User Industry
Table 4 Oil Production, By Region & Country, 2010-2014
Table 5 Waste Heat Sources & Related Recovery Opportunity at Low Temperature (<230°C)
Table 6 Waste Heat Sources & Related Recovery Opportunity at Medium Temperature (230-650°C)
Table 7 Waste Heat Sources & Related Recovery Opportunity at High Temperature (>650°C)
Table 8 Waste Heat Recovery System Market Size, By Application, 2014-2021 (USD Million)
Table 9 WHRS: Pre-Heating Application, By Region, 2014-2021 (USD Million)
Table 10 WHRS: Steam & Electricity Generation Application, By Region, 2014-2021 (USD Million)
Table 11 WHRS: Other Applications, By Region, 2014-2021 (USD Million)
Table 12 Waste Heat Recovery System Market Size, By End-User Industry, 2014-2021 (USD Million)
Table 13 WHRS: Petroleum Refining Industry, By Region, 2014-2021 (USD Million)
Table 14 WHRS: Metal Production Industry, By Region, 2014-2021 (USD Million)
Table 15 WHRS: Cement Industry, By Region, 2014-2021 (USD Million)
Table 16 WHRS: Chemical Industry, By Region, 2014-2021 (USD Million)
Table 17 WHRS: Paper & Pulp Industry, By Region, 2014-2021 (USD Million)
Table 18 WHRS: Other Industries, By Region, 2014-2021 (USD Million)
Table 19 Waste Heat Recovery System Market Size, By Region, 2014–2021 (USD Million)
Table 20 North America: Waste Heat Recovery System Market Size, By Country, 2014–2021 (USD Million)
Table 21 North America: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 22 North America: Waste Heat Recovery System Market Size, By Application, 2014–2021 (USD Million)
Table 23 U.S.: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 24 U.S.: Waste Heat Recovery System Market Size, By Application, 2014–2021 (USD Million)
Table 25 Canada: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 26 Mexico: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 27 Europe: Waste Heat Recovery System Market Size, By Country, 2014–2021 (USD Million)
Table 28 Europe: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 29 Europe: Waste Heat Recovery System Market Size, By Application, 2014–2021 (USD Million)
Table 30 Germany: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 31 Germany: Waste Heat Recovery System Market Size, By Application, 2014–2021 (USD Million)
Table 32 Italy: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 33 Italy: Waste Heat Recovery System Market Size, By Application, 2014–2021 (USD Million)
Table 34 France: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 35 U.K.: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 36 Belgium: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 37 Sweden: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 38 Russia: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 39 Poland: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 40 Spain: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 41 Others: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 42 Asia-Pacific: Waste Heat Recovery System Market Size, By Country, 2014–2021 (USD Million)
Table 43 Asia-Pacific: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 44 Asia-Pacific: Waste Heat Recovery System Market Size, By Application, 2014–2021 (USD Million)
Table 45 China: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 46 China: Waste Heat Recovery System Market Size, By Application, 2014–2021 (USD Million)
Table 47 India: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 48 India: Waste Heat Recovery System Market Size, By Application, 2014–2021 (USD Million)
Table 49 Japan: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 50 South Korea: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 51 Philippines: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 52 Indonesia: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 53 Malaysia: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 54 Vietnam: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 55 Others: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 56 Middle East & Africa: Waste Heat Recovery System Market Size, By Region, 2014–2021 (USD Million)
Table 57 Middle East & Africa: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 58 Middle East & Africa: Waste Heat Recovery System Market Size, By Application, 2014–2021 (USD Million)
Table 59 The Middle East: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 60 Africa: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 61 South America: Waste Heat Recovery System Market Size, By Country, 2014–2021 (USD Million)
Table 62 South America: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 63 South America: Waste Heat Recovery System Market Size, By Application, 2014–2021 (USD Million)
Table 64 Brazil: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 65 Brazil: Waste Heat Recovery System Market Size, By Application, 2014–2021 (USD Million)
Table 66 Argentina: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 67 Others: Waste Heat Recovery System Market Size, By End-User Industry, 2014–2021 (USD Million)
Table 68 Supply Contract, 2012–2016
Table 69 Agreement, 2012–2016
Table 70 Partnership & Collaboration, 2012–2016
Table 71 Others, 2012–2016

List of Figures

Figure 1 Waste Heat Recovery Market: Research Design
Figure 2 Key Data From Secondary Sources
Figure 3 Key Data From Primary Sources
Figure 4 Breakdown of Primary Interviews
Figure 5 Market Size Estimation: Bottom-Up Approach
Figure 6 Market Size Estimation: Top-Down Approach
Figure 7 Market Breakdown and Data Triangulation
Figure 8 Steam & Electricity Generation Application Dominates the Waste Heat Recovery System Market During the Forecast Period
Figure 9 Petroleum Refining to Be the Largest End-User Indsutry From 2016-2021
Figure 10 Europe Estimated to Be the Largest Market Between 2016 - 2021
Figure 11 Attractive Opportunities in the Waste Heat Recovery System Market
Figure 12 Asia-Pacific Expected to Witness Rapid Growth Between 2016 and 2021
Figure 13 Waste Heat Recovery System Market Share, By Application, 2016 (USD Million)
Figure 14 Cement is the Fastest-Growing WHRS End-User Industry During the Forecast Period
Figure 15 Asia-Pacific to Experience Increased Demand for Waste Heat Recovery System Between 2016 and 2021
Figure 16 Europe is the Largest Waste Heat Recovery System Market
Figure 17 Focus on Greenhouse Gas Emission Reduction Will Continue to Drive the Waste Heat Recovery System Market in Future
Figure 18 Value Chain for Waste Heat Recovery System Market
Figure 19 Porter’s Five Forces Analysis (2015)
Figure 20 Power (Electricity) Generation, By Region, 2013-2014
Figure 21 Manufacturing Industry Growth Rate, 2015
Figure 22 Oil Production, By Region, 2013-2014
Figure 23 WHRS Market Segmentation, By Type
Figure 24 Steam & Electricity Generation is Estimated to Be the Largest WHRS Application, From 2016 to 2021
Figure 25 Europe Accounts for the Largest Share of Pre-Heating Application During the Forecast Period
Figure 26 Europe Will Dominate the WHRS Market for Steam and Electricity Application
Figure 27 Europe is the Largest Market of WHRS in Other Applications
Figure 28 WHRS Market Segmentation, By End-User Industry
Figure 29 Petroleum Refining Industry Dominates the Waste Heat Recovery System Market From 2016 to 2021
Figure 30 Europe Accounts for the Largest Share of WHRS in Petroleum Refining Industry During the Forecast Period
Figure 31 Europe Dominates the WHRS Market in Metal Production Industry
Figure 32 Asia-Pacific is the Largest Market of WHRS for Cement Industry
Figure 33 Asia-Pacific is the Fastest Growing Market of WHRS in Chemical Industry
Figure 34 North America is the Second-Largest Market of WHRS Systems in Paper & Pulp Industry
Figure 35 North America is the Second-Largest Market of WHRS in Other Industries
Figure 36 Europe is Estimated to Be the Largest Market During the Forecast Period
Figure 37 Regional Snapshot of the Waste Heat Recovery System Market: China Driving Growth of Global Market
Figure 38 North America: Waste Heat Recovery System Market Snapshot
Figure 39 U.S. is Expected to Be the Largest Market for Waste Heat Recovery System in North America From 2016 to 2021
Figure 40 WHRS Market in Metal Production Industry is Expected to Witness the Highest CAGR During the Forecast Period
Figure 41 Steam & Electricity Generation is the Largest Application of WHRS in North America
Figure 42 Chemical Industry is Expected to Be the Largest Market for Waste Heat Recovery System From 2016-2021
Figure 43 Chemical Industry is the Fastest Growing End-User Industry of WHRS in Canada, From 2016 to 2021
Figure 44 Chemical is the Largest and Fastest Growing End-User Industry of WHRS in Mexico
Figure 45 Germany is Estimated to Be the Largest Market for Waste Heat Recovery System in Europe, During the Forecast Period
Figure 46 Waste Heat Recovery System Market, By End-User Industry, 2016 vs 2021
Figure 47 Steam & Electricity is the Largest and Fastest Growing Application of WHRS in Europe
Figure 48 Cement is the Fastest Growing End-User Industry of WHRS in Europe
Figure 49 Petroleum Refining is the Largest End-User Industry of WHRS in Italy
Figure 50 Petroleum Refining Industry Dominates the WHRS Market in France
Figure 51 Cement Industry is Expected to Witness the Highest CAGR in the WHRS Market During the Forecast Period
Figure 52 Petroleum Refining Industry Captures the Major Market Share
Figure 53 Petroleum Refining is the Largest End-User Industry of WHRS in Sweden
Figure 54 Petroleum Refining is the Largest End-User Indsutry of Waste Heat Recovery System in Russia
Figure 55 WHRS Market in Cement Industry is Expected to Experience the Highest CAGR From 2016 to 2021
Figure 56 Petroleum Refining Industry is the Largest End-User Industry of WHRS in Spain
Figure 57 Petroleum Refining Industry is the Largest End-User Industry of WHRS in Other European Countries
Figure 58 Asia Pacific: Waste Heat Recovery System Market Snapshot
Figure 59 China is the Largest Waste Heat Recovery System Market in Asia-Pacific
Figure 60 Petroleum Refining is the Largest End-User Industry of WHRS in Asia-Pacific
Figure 61 Steam & Electricity is the Largest and Fastest Growing Application of WHRS
Figure 62 Petroleum Refining Industry Captures the Major Market Share in the Chinese WHRS Market
Figure 63 Chemical Industry is Expected to Be the Fastest-Growing End-User Industry of WHRS in India
Figure 64 Petroleum Refining Industry is Expetcetd to Dominate the Market During the Forecast Period
Figure 65 Chemical Industry is Expeced to Be the Largest and Fastest Growing WHRS End-User Industry
Figure 66 Petroleum Refining is the Largest End-User Industry of WHRS in Philippines
Figure 67 Chemical is the Largest and Fastest Growing End-User Industry of WHRS in Indonesia
Figure 68 Chemical is the Largest and Fastest Growing End-User Industry of WHRS in Malaysia
Figure 69 Chemical is the Largest End-User Industry of Waste Heat Recovery System in Vietnam
Figure 70 Middle East Dominates the Waste Heat Recovery System Market in the Me&A Region
Figure 71 Petroleum Refining Industry Domiated the Me&A WHRS Market
Figure 72 Steam & Elcetricity is the Largest and Fastest Growing Application of WHRS in the Middle East & Africa
Figure 73 Cement Industry is Expected to Witness Highest CAGR Between 2016 and 2021
Figure 74 Petroleum Refining is the Largest End-User Industry of WHRS in Africa
Figure 75 Brazil Dominated the Waste Heat Recovery System Market in South America
Figure 76 Petroleum Refining is the Largest End-User Industry of WHRS in South America
Figure 77 Steam & Electricity Generation is the Largest and Fastest Growing Application of WHRS in South America
Figure 78 Petroleum Refining Industry Captures the Major Market Share of WHRS Market in Brazil
Figure 79 Cement Industry is Expecected to Grow With the Highest CAGR,A Mong All the End-User Industries of WHRS
Figure 80 Companies Primarily Adopted Inorganic Growth Strategies
Figure 81 ABB Ltd.: Company Snapshot
Figure 82 AMEC Foster Wheeler: Company Snapshot
Figure 83 Ormat Technologies Inc.: Company Snapshot
Figure 84 General Electric Co.: Company Snapshot
Figure 85 Mitsubishi Heavy Industries Ltd.: Company Snapshot
Figure 86 Echogen Power Systems Inc.: Company Snapshot
Figure 87 Econotherm Ltd: Company Snapshot
Figure 88 Thermax Limited: Company Snapshot
Figure 89 Siemens AG: Company Snapshot
Figure 90 Cool Energy, Inc.: Company Snapshot

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